BYD to Establish European Headquarters and R&D Center in Budapest
BYD, a leading Chinese new energy vehicle (NEV) maker, is set to expand its presence in the European market by opening its European headquarters and establishing a new European R&D center in Budapest, Hungary. This strategic move was solidified through a cooperation agreement signed with the Hungarian government in Budapest on May 15, in the presence of Hungarian Prime Minister Viktor Orban and BYD chairman and president Wang Chuanfu.
The European headquarters of BYD in Budapest will serve three main functions: sales and after-sales operations, vehicle certification and testing, as well as model localization design and feature development. This initiative is expected to create numerous job opportunities in Budapest while also providing training and educational collaborations with at least three Hungarian universities.
Hungarian Prime Minister Viktor Orban expressed enthusiasm over the partnership with BYD, noting that China’s leadership in electric vehicle (EV) technology will help propel Hungary into the new era of EV technology. This collaboration builds upon BYD’s existing presence in Hungary, where the company established its first European factory in April 2016, specializing in the assembly of electric buses.
In a significant development, BYD announced plans in December 2023 to construct a passenger NEV production site in Szeged, Hungary. This project, to be implemented in phases, is expected to generate employment opportunities for the local community. BYD’s commitment to local production in Hungary underscores its dedication to the European market.
Prior to the commencement of local production in Hungary, BYD has been supplying NEVs to the country through exports from China. The company introduced its electric SUV, the Sealion 07 (Sealion 7 locally), in Hungary in February. Other popular models offered by BYD in Hungary include the Atto 3 (Yuan Plus in China), Dolphin, Seal, Seal U, and Tang.
The establishment of BYD’s European headquarters and R&D center in Budapest marks a significant milestone in the company’s expansion strategy in the European market. With a strong focus on innovation and localization, BYD is poised to make a lasting impact on the automotive industry in Hungary and beyond.
